November 02, 2004
Norwich Union life insurance pulls out of whole-of-life market
The Financial Services Authority (FSA) has warned consumers to be cautious about rushing into signing up for whole-of-life insurance policies after seeing a surge in complaints from customers who were mis-sold policies.
Financial ombudsman Walter Merricks, received 5,442 complaints about mis-sold policies last year, with consumers winning compensation in around half the disputes, the Sunday Herald newspaper reports.
Posted by Tom Troceen